5-Unit Apartment
New
For Sale
$2,000,000
301 N Matlack St, West Chester, PA 19380
Updated unit finishes include hardwood floors, quartz kitchens, stainless appliances, and tiled bathrooms.
Property Size5,832 SF
Price / SF$342.94
Days on Market3
Property Features for 301 N Matlack St
General Information
Standard status
Active
Size
5,832 SF
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
5
Amenities
hardwood floors
quartz kitchens
stainless appliances
tiled baths
original period detail
private decks
large shared rear yard
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
Kate Muckenhirn · License #RS311119
(484) 799-9197
Source:
Southjerseyshorehomesfinder
Added: Oct 7
Last Checked: Oct 4 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This five-unit apartment property is fully occupied, with two one-bedroom, one-bathroom units and three two-bedroom, one-bathroom units. Interiors feature hardwood floors, quartz kitchens, stainless steel appliances, tiled bathrooms, and period details. Two apartments have private decks, and residents share a rear yard. Garage space provides additional rental income; one garage is currently leased. Tenants reimburse water costs and pay their own heat.
The property is three blocks from Gay Street in West Chester Borough, within walking distance of West Chester University and the Chester County Courthouse. Marshall Square Park, the Growers Market, restaurants, bars, and shops are also nearby. Routes 202 and 100 connect the area with King of Prussia, Wilmington, and the Main Line.
The property is three blocks from Gay Street in West Chester Borough, within walking distance of West Chester University and the Chester County Courthouse. Marshall Square Park, the Growers Market, restaurants, bars, and shops are also nearby. Routes 202 and 100 connect the area with King of Prussia, Wilmington, and the Main Line.
Key Highlights
- Five apartments: two 1BR/1BA and three 2BR/1BA; all are occupied
- Renovated interiors feature hardwood floors, quartz kitchens, stainless appliances, tiled baths, and period details
- Two units have private decks; a large shared rear yard serves the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,239
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,780
$1.3M
Cap Rate 7%
$903,414
$903.4K
Cap Rate 9%
$702,656
$702.7K
Market Conditions
NOI Build-Up for 5,832 SF
Gross rent
$124.6K $21.36/SF
− Vacancy
−$9.6K −$1.64/SF
EGI
$115.0K $19.72/SF
− OpEx
−$51.7K −$8.87/SF
NOI
$63.2K $10.84/SF
Area
Chester County, PA
Vacancy
7.70%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,780
Cap Rate 7%
$903,414
Cap Rate 9%
$702,656
Alternative Uses
Best Use
Apartment 5plus
$903.4K
$790.5K – $1.05M
NOI $63,239 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,774 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 19380, PA
50,692
Population
21,490
Households
2.4
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,662
Density / Sq Mi
$122,876
Median Household Income
$69,599
Median Earnings
$1,820
Median Rent
$530,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated unit finishes include hardwood floors, quartz kitchens, stainless appliances, and tiled bathrooms.
Where is this apartment building located?
The property is located at 301 N Matlack St West Chester, PA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Five apartments: two 1BR/1BA and three 2BR/1BA; all are occupied; Renovated interiors feature hardwood floors, quartz kitchens, stainless appliances, tiled baths, and period details; Two units have private decks; a large shared rear yard serves the property
